Iveric Bio (ISEE) PT Raised to $30 at Cowen; Zimura Has Solid Profile in Likely $4B+ Market

Cowen analyst Ken Cacciatore raised the price target on Iveric Bio (NASDAQ: ISEE) to $30.00 (from $25.00) while maintaining a Outperform rating following Zimura results, saying it has a solid profile in likely $4B+ market.

The analyst commented, "Iveric bio disclosed positive results from Zimura's second pivotal trial GATHER2. Combined with the GATHER1 results, we believe Zimura has demonstrated efficacy in line with Apellis's recent studies (i.e. 18% and 30% vs 16% and 34% for Apellis), while safety appears better. Given our KOLs' commentary, we continue to believe that each of these products is a $2B+ opportunity. Add."

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